“People can’t even afford fast food these days”. Meanwhile there are lines wrapped around every fast food chain I see. They all seem to be busier than ever.
As people face economic challenges, signs of financial strain are evident. Retailers catering to the upper middle class, such as Apple, Coach, and Nordstrom, are witnessing their most significant sales drop in two years, according to Bloomberg. Former Walmart U.S. President & CEO Bill Simon acknowledges the consumer spending slowdown ahead of the holiday season, emphasizing the need for judicious spending.
The economic impact is widespread, and something must change to alleviate the strain on individuals. A sacrifice in profit margins might be necessary for businesses to support their customers during these challenging times. The resilience of consumer spending is evident, but the cautionary approach suggests a shift in spending habits.
Sources:
“Consumer spend is as resilient as it possibly could be, people will be judicious,” says Former Walmart U.S. President & CEO Bill Simon on the slowdown in consumer spending ahead of the holiday season. pic.twitter.com/Uvqb9ymDwk
— Win Smart, CFA (@WinfieldSmart) December 4, 2023
Retailers that cater to the upper middle class — including Apple, Coach and Nordstrom — have seen their biggest sales drop in two years, per Bloomberg.
— unusual_whales (@unusual_whales) December 4, 2023
The consumer is… pic.twitter.com/289eY8KGGl
— Mac10 (@SuburbanDrone) December 4, 2023
Oil sees very volatile moves around recessions
In a recession = oil collapses
After a recession = oil spikes pic.twitter.com/GJZKTl4gJk
— Game of Trades (@GameofTrades_) December 4, 2023
CEO buying 7th yacht after laying off 2,000 employees:
"This is how you can help poor people."
— Darth Powell 🦈🇺🇲🇺🇦🇵🇱🇫🇮 (@GRomePow) November 29, 2023
More Americans Tapping Into Retirement Savings As ‘Hardship’ Withdrawals Rise
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